BANKING
ICICI Bank expects retail loan growth to pick up in H2: ED Sandeep Batra
Responding to a query on the recent reports on social media platforms alleging unlawful employee exits, ED Sandeep Batra dismissed the claims as baseless
BUSINESS
SMBC stake remarks unrelated to Yes Bank’s operational priorities, says CEO Prashant Kumar
SMBC has stated that they will not increase their stake, and they are under no obligation to do so beyond 24.99 percent, says CEO Prashant Kumar.
BUSINESS
Federal Bank board to weigh fund-raising options on October 24
Bank to explore rights issue, preferential allotment, and QIP to bolster capital base
COMPANIES
General insurers begin trimming commissions to offset unclaimed ITC hit
Extent of these reductions varies from one insurer to another, with sources indicating that some companies may have introduced subtle changes, trimming incentive-linked bonuses rather than headline commission rates
BUSINESS
Angel One to go fully digital with life insurance JV; 65% focus on critical illness products, says CSO Amit Majumdar
While there is a 3-,5-, and 8-year-plan in place, if the trajectory goes better than planned, Angel One will invest more capital or the foreign partner may increase its stake, with 100% FDI now permitted under new regulations, says Majumdar
BUSINESS
Axis Bank says RBI caution circular an old legal matter, corrective action taken
CEO Amitabh Chaudhry says the bank is engaging with the regulator to provide all necessary clarifications
BUSINESS
Q2 FY26 Results: ICICI Lombard net profit rises 18% yoy to Rs 820 crore
The company’s board also declared an interim dividend of Rs 6.50 per share for the first half of FY26, compared with Rs 5.50 per share declared in the same period last year
BUSINESS
Premium rates and terms tighten for aviation sector post Air India crash: Deepak Kumar, Aviation Reinsurance Head, Tata AIG
Commenting on the Air India crash, he said, on the claims side, the aircraft hull loss is being settled relatively quickly, but liability payouts will take longer due to the involvement of foreign nationals and the likelihood of legal proceedings
BUSINESS
ICICI Prudential Life Q2FY26 Results: Insurer's net profit rises 18% to Rs 296 cr
The company’s Annualised Premium Equivalent (APE) declined slightly by 3 percent to Rs 2,422 crore, compared with Rs 2,504 crore a year ago
BUSINESS
E20 fuel troubles may trigger insurance disputes as car maintenance costs double
Policy terms may need to revised to define ethanol-related exclusions clearly to prevent insurers from facing rising claim disputes over what’s covered and what’s not, industry insiders say
BUSINESS
Truhome Finance awaits rating upgrade after doubling AUM to Rs 20,000 crore
Warburg is expected to provide additional growth capital as Truhome scales up further
BUSINESS
Composite licensing may not be included in Insurance Amendment Bill to be tabled in Winter Session
Industry executives believe lawmakers are more likely to prioritise the FDI change, over more technical amendments. Rationale behind introduction of Composite License likely to be deliberated further by IRDAI and insurance companies, sources suggest.
BUSINESS
Non-life insurers' premium grows 13.17% in September; Acko, United India lead
Overall, general insurers continued to dominate the market with an 83.65% share, followed by standalone health insurers at 11.88% and specialised insurers at 4.47%.
BUSINESS
Life insurers’ new business premiums rise 14.8% in September, led by private players
On a year-to-date basis, LIC’s collections rose 4.7 percent to Rs 1,21,008 crore, from Rs 1,15,550 crore in the first half of FY25.
BUSINESS
Canara HSBC Life banks on new agency, digital channels for next leg of growth amid IPO launch
No fresh fund infusion planned; insurer to fund expansion through internal accruals, says CEO Anuj Mathur
BUSINESS
Bima Sugam platform to rank insurance products using AI-driven metrics, will go beyond just pricing
The idea is to help consumers make informed decisions based on the reliability and performance of insurers, not just on affordability, says Deepak Rajoo, CIO, Royal Sundaram Insurance
ECONOMY
RBI to launch certificate of deposits' tokenisation tomorrow, says official
Pati cautioned that such innovations must be approached thoughtfully, with robust legal and regulatory frameworks in place
BUSINESS
Insurance agents & associations likely to take up GST issue with IRDAI, Finance Ministry
While strict cost caps has forced private insurers to pass GST burden to agents, PSUs like LIC, New India Assurance, Oriental and United India have decided to absorb loss
BUSINESS
Acko Life CEO Sandip Goenka steps down
Goenka, who took charge on October 15, 2024, stepped down from the role this month, ending an 11-month tenure at the company
BUSINESS
Battle for India’s largest mid-sized bank intensifies
While the top 3 private lenders HDFC Bank, ICICI Bank, and Axis Bank have stayed steady for over a decade, most of the action in the pecking order has been in the mid-tier where banks have swapped ranks in a tight contest
BUSINESS
GST cut on insurance may trim medical inflation but won’t shift consumer mindset: Debashish Banerjee, Partner, Deloitte
Deloitte’s Debashish Banerjee says the bigger barrier to insurance penetration is trust, not pricing, and GST relief alone won’t change consumer behaviour
WORLD
H1B Visa cost hike could further dampen demand for overseas education loans
Industry experts say the sector has witnessed decline since Trump’s Presidency and demand for US education loans for the Fall 2025 academic year has plunged compared to a year ago
BUSINESS
Leading insurers see ITC impact from GST exemption as manageable, no major disruption
Experts are of the view that smaller, retail-focused insurers may face pressure sooner, while larger diversified players can cushion short-term margin shock
BUSINESS
Micro-covers turning 'push' insurance into 'pull' products, says Universal Sompo CEO
Regulators are also examining structural reforms such as monoline alongside composite licenses, which could reshape the way insurers operate in India, Mathur says
